Market News - 24 Nov 2009

Wall St Wall St rose 1.3%, cheering on the strong housing, and rally in commodities. Existing home sales rose 10.1% in Oct, the highest since Feb 2007. Dollar weakened following US hint of retaining the stimulus packages; this translates to prolonging the low interest rates. Gold shot up in Asia. Trading may be subdued this week due to Thanksgiving on Thursday, and a shortened Friday trading.

• Dow is at 10,450. Support is at 10,171. Resistances at 10,500, 10,800
• Dollar is unchanged at 88.9 yen. Upside is at 90.6 yen.
• Euro/dollar is higher at 1.497. Longer term upside is at 1.53
• Crude oil is slightly firmer at USD77.Focus is on gold, rising to USD1164. Some resistance at USD1174.
• Ringgit recovers to 3.376, from the low of 3.40. It may have bottomed at 3.40, and is likely to gain to the 61.8% retracement level of 3.37 following the stronger than expected 3Q’2009 GDP growth, which improved to 1.2% contraction, compared to the 2Q’2009’s 3.9% contraction. Upside remains at 3.34.
• S’pore ringgit is firmer at 2.438. With a pullback support at 2.42, the long term upside is at 2.52.
• Malaysia market closed lower at 1270. With strong support at 1268, it is targeting yearend 1292, and 1300.
• CPO Dec futures continues to rise to RM2444. Upside is revised to RM2500.
• Today’s trading range is between 1268 and 1276.

 

Market News - 23 Nov 2009

Wall St down 0.14%, tracking the dollar, which rose as safe haven. Dollar was higher; commodities mixed. Housing and tech sectors softened, on Dell’s weak earnings, and downgrade on technology. Trading may be subdued this week due to Thanksgiving on Thursday, and shortened Friday trading. Consumer confidence, and home sales this week may affect the market.

 

• Dow of 10,318. Support is at 10,171. Resistances at 10,500, 10,800
• Dollar is higher at 88.9 yen. Upside is at 90.6 yen  

• Crude oil is lower at USD76.
• Gold of USD1148, may have topped out at intraday high of USD1,152. Correction to USD1127 is possible.
• Ringgit recovers to 3.384, from the low of 3.40. It may have bottomed at 3.40, and is likely to gain to the 61.8% retracement level of 3.37 following the stronger than expected 3Q’2009 GDP growth, which improved to 1.2% contraction, compared to the 2Q’2009’s 3.9% contraction. Upside remains at 3.34.
• S’pore ringgit is firmer at 2.438. With a pullback support at 2.42, the long term upside is at 2.52.
• Malaysia market closed lower at 1274. With strong support at 1271, it is targeting yearend 1292, and 1300.
• CPO Dec futures is steady at RM2351. Upside is at RM2420.
• Today’s trading range is between 1271 and 1278.

 

Cross Border Trading Workshop - Kuching (26 Nov 2009)

CIMB are pleased to announce that there will be a FREE workshop on Introductory to Cross Border Trading organised by CIMB Investment Bank Berhadexclusively for all i*Trade@CIMB customers.

 

In this workshop, we will demonstrate the features to trade in the Non-Ringgit markets which include the Singapore Stock Exchange (SGX), Hong Kong Stock Exchange (HKSE), New York Stock Exchange (NYSE), NASDAQ and American Stock Exchange (AMEX).

 

This workshop will cover:-

 

·         Registering and activating your access

·         Stock search

·         Favourite list of stocks

·         Performing buy & sell

·         Charts

·         Research

 

Workshop Details:

 

Date	26th November 2009 (Thursday)
Programme	12:00 pm – Registration 12:15 pm – Introductory to Cross Border Trading 1:30pm – Q & A 1.45pm – End of workshop
Venue	CIMB Investment Bank Bhd Level 6 Wisma STA No. 26 Jalan Datuk Abang Abdul Rahim 93450 Kuching

 

Don’t miss this OPPORTUNITY to learn and maximize the full potential from our Cross Border Trading services.

 

Refer your friends and family to trade with CIMB during this tutorial and get CASH reward* (terms & conditions apply)

 

For registration, please contact us at 082-358688 or email harjinder.cheema@cimb.com not later than 25^thNovember 2009 (Wednesday). Registration is on a first-come-first-serve basis.

 

Market News - 20 Nov 2009

Wall St down 0.9%, tracking the dollar, which rose slightly. Weekly initial jobless claims, as expected,  at 505,000. Leading economic indicator up 0.3% in October, down from Sept’s 1.0%. However, manufacturing in the Philadelphia region expanded more than expected on the economic index, up 16.7 in Nov, from Oct’s 11.5. Dollar was higher; commodities down.

 

• Dow of 10,332. Resistances at 10,500, 10,800
• Dollar is recovering to 89.6 yen. Upside is at 90.6 yen
• Crude oil is lower at USD77, on USD76.8 gap support
• Gold of USD1141, may have topped out at intraday high of USD1,152. Correction to USD1127 is possible.
• Ringgit weakens to 3.38, on market talks of intervention to stem the rise, as exports have yet to pick up. However, the downside is limited to 3.40, ahead of today’s 3Q’2009 GDP, which is expected to improve to 2% contraction, compared to the 2Q’2009’s 3.9% contraction. Upside is at 3.36
• S’pore ringgit is firmer at 2.435. With a pullback support at 2.42, the long term upside is at 2.52.
• Malaysia market closed higher at 1276. With strong support at 1271, it is targeting yearend 1292, and 1300.
• CPO Dec futures is steady at RM2360. Upside is at RM2420.
• Today’s trading range is between 1271 and 1278.

 

Trend Analysis with MACD in Johor (22 Nov 2009)

CIMB are pleased to invite you to attend a FREE seminar entitled How to Track the Trend & Make Profits with MACD Indicator presented byChartNexus Pte Ltd and supported by CIMB Investment Bank Berhad in Johor.

 

The seminar will cover the following topics:-

 

·         Understand the fundamentals of a working Trading Strategy.

·         Learn how to use this MACD Indicator & MACD Histogram to identify the strength of the momentum, continuation of an up-trend & point of reversal and breakout.

·         Acquire the knowledge to trade in up, down or sideway market.

·         Learn how software can help you pick the next winning stock.

 

Details of the seminar are as follows:

 

Date	22nd November 2009 (Sunday)
Time	12.30 pm – Registration 1.00 pm – How To Track The Trend & Make Profits with MACD Indicator 3.00 pm – Account opening consultation
Venue	Paragon Hotel Diamond 5 – Level 6 18 Jalan Harimau Taman Century 80250 Johor Bahru

 

Come join us to learn about the secrets of simple yet effective trading strategies that you can apply in the current market trend.

For registration, please email evelyn.voon@cimb.com / amir.satar@cimb.com or contact us at 07-3537669 / 07-3537959 not later than 20^thNovember 2009 (Friday).